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AFW Industries has 218 million shares outstanding and expects earnings at the end of this year of $717 million. AFW plans to pay out 62%

AFW Industries has 218 million shares outstanding and expects earnings at the end of this year of $717 million. AFW plans to pay out 62% of its earnings in total, paying 32% as a dividend and using 30% to repurchase shares. If AFW's earnings are expected to grow by 8.4% per year and these payout rates remain constant, determine AFW's share price assuming an equity cost of capital of 11.4% The price per share will be $ (Round to the nearest cent.)
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a 114% The ince per share wal be 1 (Aound to the cenerest sent)

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